Shipping Corporation hits over 2-year high; stock zooms 60% in 3 weeks

The government has decided to sell its entire 63.75 per cent stake in SCI

Shares of Shipping Corporation of India (SCI) continued their upward movement, hitting an over two-year high of Rs 83.70 on the BSE after rallying 13 per cent on Thursday on the back of heavy volumes in an otherwise weak market. The stock of the state-owned shipping company is trading at its highest level since February 2018.

The trading volumes on the counter more-than-doubled against its two-week average, with a  combined 16.6 million equity shares changing hands on the NSE and BSE, till 11:39 am. In comparison, the S&P BSE Sensex was down 0.69 per cent at 45,784 points.